Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices closed the trading session on a record high note on July 09. The BSE Sensex jumped 391 points or 0.49% to finish the day’s trading at 80,351.64, while the NSE Nifty 50 closed 113 points or 0.46% higher at 24,433.20. Bank Nifty closed in the green up 143 points or 0.27% at 52,569. Following the trend, Nifty Midcap 100 closed 189.35 points or 0.33% higher at 57,077.55.
The NSE Nifty 50 closed 0.40% higher at 24,417.55, while the BSE Sensex closed 0.39% higher at 80,270.21.
Maruti Suzuki, M&M, ITC, Sun Pharma, and Titan were the top gainers in the Nifty 50. While ONGC, Tata Consumer Products, Reliance Industries, Shriram Finance, and LTIMindtree were the major losers in the Nifty 50 on July 09.
Shares of GM Breweries zoomed more than 4% to an intraday high of Rs 945 but later fell from its high. The upsurge in the stock came after the company reported strong Q1 FY25 results. GM Breweries posted a net profit of Rs 25 crore In Q1 of FY25, a 25% growth on year against the same period last year. Its revenue for the quarter also grew by 3.8% to Rs 152.4 crore from Rs 147 crore last year.
The stock of RPP Infraprojects saored over 18% to hit a fresh 52-week high of Rs 169.40. The share of the company rallied after it received new orders worth Rs 310.93 crore.
“We inform you that M/s. RPP Infra Projects Ltd has been received letter of acceptance fora new projects – Construction of New District Jail (1026 capacity) at Hapur (U.P) India on Engineering, Procurement and Construction (EPC) model for a contract value of INR 158.82 (Inclusive GST) and Construction of New District Jail (1026 capacity)at District Jaunpur, U.P. India on EPC mode for contract value of INR 152.11(Inc GST) . The company already won Rs.152.11 crore for same nature of work at Jaunpur, UP. We received original copy today,” said the company in an exchange filing.
Shares ofof One97 Communications fell 5% to an intraday low of Rs 448.80 after the company’s management was summoned by labour commissioner over alleged layoffs.
Inflows into equity mutual funds surged by 17% to Rs 40,608.19 crore in June, marking a new high, according to the latest data released by the Association of Mutual Funds of India (AMFI) on July 9.
The mutual fund industry’s overall assets under management (AUM) increased to Rs 61.16 lakh crore in June. Conversely, debt mutual funds experienced net outflows of Rs 1,07,357.62 crore during the same period.
Bengaluru-based Zinka Logistics filed draft red herring prospectus papers with SEBI for an IPO on July 08. The IPO will offer a combination of fresh issue as well as an offer for sale, in which promoters will be selling 21.61 million equity shares. The company will collect Rs 550 crore from the fresh issue. Zinka Logistics is India’s largest digital platform of truck operators (in terms of number of users). More than 9.63 lakh truck operators in the country transacted on the platform in FY24, which comprises 27.52% of India’s truck operators, said the company quoting RedSeer report.
Maruti Suzuki India’s shares rallied 4.5% to hit an intraday high of Rs 12,617.50. The jump in the stock price came after the Uttar Pradesh Government announced the full waiver of registration tax on hybrid cars. Waving of 100% road tax on strong hybrid vehicles is a milestone decision by the Uttar Pradesh government, which will encourage the adoption of these environment-friendly vehicles. This could help auto & truck manufacturers in increasing the sales of their company. Also, the move by the government can benefit customers up to Rs 3.2 lakh.
Courtesy: NSE
Courtesy: NSE
The NSE Nifty 50 was up 67 points or 0.28% at 24,390.85, while the BSE Sensex was up 300 points or 0.38% at 80,260.47.
The share price of Jupiter Wagons, a mobility solutions provider plunged over 3% as the company on Monday July 8, 2024 announced that its Fund Raising Committee has approved the launch of a qualified institutional placement (QIP), setting the floor price at Rs 689.47 per equity share. The share price of Jupiter Wagons traded down over 3% to intra-day low of Rs 694.35 on NSE.
Courtesy: BSE
“Bank Nifty closed below its support level at 52,500, forming a small-bodied candlestick on the daily chart. The trend however, remains positive as it closed above the critical moving average. Strong support level is at 52,000 where Put writers are present heavily. While the Call writers seen heavying position at 52500. A close above 52500 might induce a sustained rally towards 53000,” Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities.
The share price of Mahanagar Gas gains over 1% to intra-day high of Rs 1,762.25 on NSE on the following news that the state-run company has announced a price increase for Compressed Natural Gas (CNG) and domestic Piped Natural Gas (PNG) to partially offset rising gas costs. Effective from midnight of July 8, 2024, or the morning of July 9, 2024, the delivered price of CNG will increase by Rs 1.50 per kilogram, while the price of domestic PNG will rise by Rs 1.00 per standard cubic meter in and around Mumbai.
Courtesy: NSE
Commenting on the Technical outlook of Nifty Rupak De, Senior Technical Analyst, LKP Securities, said The Nifty remained range-bound during the day, as market participants appeared to be in no hurry to decide the market’s direction. Support remains at 24,240, and a fall below this level might weaken the strength of the bulls. Until then, dips might be bought into. On the higher end, resistance is seen at 24,375-24,400. Above 24,400, the index might move towards 24,600.
Maruti Suzuki India, Britannia Industries, ITC, Kotak Mahindra & Mahindra, and State Bank Of India are the top gainers on NSE Nifty 50 index whereas the top laggards include Tech Mahindra, Reliance Industries, Bharti Airtel, Infosys, and Grasim.
International spot and domestic gold and silver futures fell on Monday weighed down by a risk-on rally in equities and profit-taking by investors after a sharp rally in the previous session. The U.S. Treasury Yields eased on Monday and capped the downside, however, the Dollar recouped some of its losses on Monday and weighed on prices. However, investors awaited guidance from the U.S. central bank and June inflation data later this week to assess the next moves for bullion.
“From an intraday perspective, international gold prices have started marginally stronger this early Tuesday morning in Asian trading. Investors today will be focused on Fed Chair Jerome Powell’s semi-annual Congressional testimony and comments from a series of Fed officials,” said Sriram Iyer, Senior Research Analyst at Reliance Securities.
“Internationally, the range for LBMA spot gold is $2,350 to $2,390, while that for MCX gold in August is 71,950 to 72,900. On the options side, the highest Call OI remains at 75000 strike, while on the downside, the highest Put OI is at 70000 strike. International LBMA spot silver prices have also started marginally higher this early Tuesday morning in Asian trade. The Dollar and the U.S. Treasury Yields have started flat this Tuesday ahead of key events tonight. Internationally, the range for LBMA spot gold is $30.675 to $31.625, while MCX September silver is 91,800 to 93,660. On the options side, the highest Call OI is at 100000 strike, while on the downside, the highest Put OI is at 85000 strike,” he said.
The NSE Nifty 50 opens up by 30.45 points or 0.13% at 24,351, while the BSE Sensex gains 146.82 points or 0.18% to 80,107.21 in the opening trade.
The NSE added Aditya Birla Fashion and Retail, Bandhan Bank, Chambal Fertilisers GNFC, Hindustan Copper, India Cement, Indus Tower and Piramal Enterprises in F&O on July 9, 2024.
Foreign institutional investors (FII) bought shares worth Rs 60.98 crore, while domestic institutional investors (DII) mopped shares worth Rs 2,866.79 crore on July 06, 2024, according to the provisional data available on the NSE.
On Tuesday morning, WTI crude prices traded at $82.31, marking a 0.11% increase, while Brent crude prices stood at $85.69, up by 0.06%.
The US Dollar Index (DXY), which gauges the dollar’s value against a basket of six major currencies, saw a 0.09% increase, reaching 104.97 in trading.
The S&P 500 and Nasdaq reached record-high closes on Monday, as investors awaited new inflation data, remarks from Federal Reserve Chair Jerome Powell, and the start of the quarterly earnings season, according to Reuters. The tech-heavy Nasdaq Composite rose by 50.98 points, or 0.28%, to close at 18,403.74. The S&P 500 increased by 5.66 points, or 0.10%, ending at 5,572.85, while the Dow Jones Industrial Average fell by 31.08 points, or 0.08%, to finish at 39,344.79.
